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611 S San Jose -- Mesa, AZ 85202

3 Beds 2 Baths 2,082 sqft Built 1972

$360,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1972
  • Price/Sqft : $172.91
  • 12 Days on Market
  • MLS # : 6151360
  • Updated Date : 10/28/2020 at 22:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,082 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Welcome to this charming ranch style home, perfect for entertaining or retreating to your personal paradise. Step into your private courtyard entry, feeling welcomed by the spacious open floor plan. The cozy brick fireplace accents the family room and dining area as well as a mirrored accent wall. French doors invite you into a den that can be used as office or guest quarters. Kitchen has plenty of space and opens to a breakfast nook, filled with lots of cabinetry. Cozy master bedroom with his/hers closets and huge laundry room/pantry with additional storage cabinets and patio access. Home is conveniently located near freeway access, restaurants, shopping, Mesa Community College, and minutes from ASU.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Roosevelt

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $69k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Roosevelt

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8621630

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Westwood High School High Regular 3,131 145 4

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,328
Property Tax -$187
Property Insurance -$68
Property Management Fees -$99
CASH FLOW
$118

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$360,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$39,290

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,800

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,025

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 611 S San Jose -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 2429 E Loyola Drive Tempe, AZ 2
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1971
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 3016 S George Drive Tempe, AZ 3
    • 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1972
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 2627 S Bala Drive Tempe, AZ 4
    • 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 1978
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
  • 2249 S Evergreen Road Tempe, AZ 5
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 1979
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Maggie M True
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6151360
Last Updated: 10/28/2020
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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